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Qatar Financial Centre Regulatory Authority and Qatar Financial Center Authority v Horizon Crescent Wealth LLC, and Mohammed Al-Emadi

Court of First Instance
CTFIC0019/2023
Neutral Citation
[2024] QIC (F) 52
Date
17 November 2024
Status
Keywords
First Instance Circuit
Insolvency
Liquidation
QFC Insolvency Regulations
Trusts
Creditors
Priority
Judges
Sir William Blair
Ali Malek KC
Dr. Muna Al-Marzouqi
Summary

In the Qatar Financial Centre Civil and Commercial Court case [2024] QIC (F) 52, the Court, presided over by Justices Sir William Blair, Ali Malek KC, and Dr. Muna Al-Marzouqi, provides directions for ongoing proceedings concerning Horizon Crescent Wealth LLC (HCW), currently in liquidation. The main issues involve the status and validity of nine "Purported Trusts" associated with HCW and the priority of unsecured creditors, including claims by Mohamed Abdulaziz Mohamed El-Emadi. The Court must determine whether trust funds should be returned to beneficiaries or used to pay HCW's debts, considering Qatari laws on money laundering and public policy.

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Judges

  • Sir William Blair

    England

  • Ali Malek KC

    England

  • Dr. Muna Al-Marzouqi

    Qatar

Judgment Content

Appellate History

Other Judgments related to the same case

CTFIC0019/2023

  • Judgment No:

    [2024] QIC (F) 26

    03 July 2024
    View

  • Judgment No:

    [2024] QIC (A) 5

    15 April 2024
    View

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